By exploiting a loophole in sanctions, Turkey disguises Russian oil as its own and exports it to the European Union. This brings billions in profits to Russia.
Politico reported this.
According to analysts, in 2023, Turkey increased its purchases from Russia by over 100% compared to 2022. Turkish fuel exports to the EU also surged.
Despite sanctions, there is permission to import “blended” fuel into the European Union if it is labeled as non-Russian.
According to research, this scheme brought Moscow up to 3 billion euros from just three ports in the previous year.
Meanwhile, it was previously reported that April’s export of Russian oil fell to the lowest level in the last five months. This is due to attacks by Ukrainian drones and planned production cuts, which put pressure on the country’s oil revenues.
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